NEW YORK, NY--(Marketwire - December 1, 2008) - A quarterly dividend distribution of $0.06 per
share for the quarter ending December 31, 2008 was declared today by Global
Income Fund, Inc. (OTCBB: GIFD) (PINKSHEETS: GIFD), payable December 31,
2008 to shareholders of record December 15, 2008.
The $0.06 per share quarterly dividend distribution reflects a managed
distribution policy of the Fund. The policy is intended to provide
shareholders with a relatively stable cash flow and reduce or eliminate the
Fund's market price discount to its net asset value per share. The amount
of the distribution may vary depending on the net asset value per share at
the time of declaration and the policy may be changed or discontinued
without notice.
Under the current managed distribution policy, distributions of
approximately 5% of the Fund's net asset value per share on an annual basis
are paid primarily from ordinary income and any net capital gains, with the
balance representing return of capital. As of the date of this press
release, the majority, and possibly all, of this current distribution of
$0.06 per share will be comprised of ordinary income. This is only an
estimate based on information available at this time and is subject to
change. Actual amounts may be re-characterized for tax purposes after year
end 2008. In January, shareholders receive information concerning the
taxable status of the dividend distributions that were paid to shareholders
of record in the 12 months ended December 31.
The primary investment objective of Global Income Fund, Inc. is to provide
for its shareholders a high level of income, with capital appreciation as a
secondary objective. The Fund pursues its investment objectives by
investing primarily in a global portfolio of investment grade fixed income
securities and closed end funds that invest significantly in income
producing securities. The Fund is managed by CEF Advisers, Inc., a
subsidiary of Winmill & Co. Incorporated, which is engaged through
subsidiaries in stock market and gold investing through its investment
management of equity and gold mutual funds, and closed end funds. More
information about the Fund may be obtained at www.globalincomefund.net.
Contact Information: Contact:
Thomas O'Malley
E-mail:
1-212-344-6310, ext. 267